Zacks Investment Research upgraded shares of Denali Therapeutics (NASDAQ:DNLI) from a hold rating to a buy rating in a research note released on Monday, Zacks.com reports. Zacks Investment Research currently has $21.00 price target on the stock.
According to Zacks, “Denali Therapeutics Inc. is a biotechnology company. It focused on the discovery and development of therapies for patients with neurodegenerative disease, including Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis and others. Denali Therapeutics Inc. is based in SOUTH SAN FRANCISCO, United States. “
A number of other research analysts also recently issued reports on the stock. HC Wainwright reiterated a buy rating and issued a $28.00 price target on shares of Denali Therapeutics in a research note on Friday, December 20th. Wedbush initiated coverage on shares of Denali Therapeutics in a report on Wednesday, September 25th. They set a neutral rating and a $19.00 price target for the company. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Denali Therapeutics from a buy rating to a strong-buy rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $27.14.
Shares of DNLI traded up $0.63 during midday trading on Monday, hitting $21.22. The company had a trading volume of 4,676 shares, compared to its average volume of 414,086. The company’s 50-day simple moving average is $18.43 and its 200-day simple moving average is $17.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 10.59 and a current ratio of 10.59. The firm has a market capitalization of $1.98 billion, a P/E ratio of -52.87 and a beta of 2.13. Denali Therapeutics has a 1 year low of $14.24 and a 1 year high of $28.86.
Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.48) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.08. Denali Therapeutics had a negative return on equity of 13.37% and a negative net margin of 44.73%. The business had revenue of $13.60 million during the quarter, compared to the consensus estimate of $10.86 million. Equities analysts predict that Denali Therapeutics will post -2.02 earnings per share for the current fiscal year.
In related news, CEO Ryan J. Watts sold 42,185 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $18.02, for a total value of $760,173.70. Following the transaction, the chief executive officer now owns 12,505 shares of the company’s stock, valued at $225,340.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Carole Ho sold 3,464 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $20.01, for a total value of $69,314.64. The disclosure for this sale can be found here. Insiders sold 93,054 shares of company stock worth $1,695,673 in the last three months. 21.20% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in Denali Therapeutics by 1,721.7% during the third quarter. Tower Research Capital LLC TRC now owns 2,095 shares of the company’s stock worth $32,000 after buying an additional 1,980 shares during the period. Bank of Montreal Can purchased a new position in Denali Therapeutics in the 2nd quarter valued at approximately $83,000. Virtu Financial LLC purchased a new position in Denali Therapeutics in the 3rd quarter valued at approximately $163,000. AQR Capital Management LLC purchased a new position in Denali Therapeutics in the 2nd quarter valued at approximately $215,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Denali Therapeutics during the second quarter worth $242,000. 73.62% of the stock is currently owned by hedge funds and other institutional investors.
Denali Therapeutics Company Profile
Denali Therapeutics Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for neurodegenerative diseases in the United States. The company offers leucine-rich repeat kinase 2 (LRRK2) inhibitor product candidates, including DNL201 and DNL151, which are in Phase 1 clinical trials for Parkinson's disease.
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